Provident Financial Services, Inc (PFS) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its holdings in shares of Provident Financial Services, Inc (NYSE:PFS) by 44.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 22,659 shares of the savings and loans company’s stock after selling 17,771 shares during the period. First Trust Advisors LP’s holdings in Provident Financial Services were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PFS. SG Americas Securities LLC bought a new stake in shares of Provident Financial Services during the second quarter worth $118,000. Amalgamated Bank grew its holdings in shares of Provident Financial Services by 1.5% during the second quarter. Amalgamated Bank now owns 8,387 shares of the savings and loans company’s stock worth $213,000 after purchasing an additional 126 shares during the last quarter. Susquehanna International Group LLP bought a new stake in shares of Provident Financial Services during the second quarter worth $251,000. Piedmont Investment Advisors LLC bought a new stake in shares of Provident Financial Services during the second quarter worth $333,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Provident Financial Services by 4.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 14,280 shares of the savings and loans company’s stock worth $362,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 63.97% of the company’s stock.

Several research firms recently issued reports on PFS. Sandler O’Neill cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. They noted that the move was a valuation call. Boenning Scattergood reiterated a “hold” rating on shares of Provident Financial Services in a report on Friday, October 27th. Zacks Investment Research cut Provident Financial Services from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. ValuEngine upgraded Provident Financial Services from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 price target on shares of Provident Financial Services in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $27.80.

Shares of Provident Financial Services, Inc (PFS) traded down $0.50 on Friday, reaching $27.00. The company’s stock had a trading volume of 152,841 shares, compared to its average volume of 306,473. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.08 and a current ratio of 1.08. Provident Financial Services, Inc has a 12-month low of $23.19 and a 12-month high of $28.92. The company has a market capitalization of $1,828.79, a PE ratio of 18.22, a P/E/G ratio of 1.78 and a beta of 0.97.

Provident Financial Services (NYSE:PFS) last issued its earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The firm had revenue of $85.32 million for the quarter, compared to analysts’ expectations of $83.84 million. During the same quarter last year, the business earned $0.36 earnings per share. equities analysts expect that Provident Financial Services, Inc will post 1.54 earnings per share for the current fiscal year.

The business also recently announced a special dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a dividend of $0.15 per share. This represents a yield of 3.01%. The ex-dividend date of this dividend is Thursday, December 7th. Provident Financial Services’s dividend payout ratio (DPR) is currently 52.98%.

In other news, Director Laura L. Brooks sold 4,075 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $25.99, for a total transaction of $105,909.25. Following the sale, the director now owns 62,905 shares of the company’s stock, valued at $1,634,900.95. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frank L. Fekete sold 9,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.33, for a total value of $245,970.00. Following the sale, the director now directly owns 48,903 shares in the company, valued at approximately $1,336,518.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,175 shares of company stock worth $690,186. Company insiders own 2.90% of the company’s stock.

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About Provident Financial Services

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

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Institutional Ownership by Quarter for Provident Financial Services (NYSE:PFS)

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